Compensation and Benefits Management
Compensation and benefits (C&B) is a section of HR management. Direct compensation consists of salary (base and variable pay) and rewards (monetary benefits from working at the company). Indirect compensation, also termed as Benefits, includes health insurance, work life balance, recognition, and training and development. In this training program, HR professionals will understand factors that determine the structure of C&B. Participants will use models such as the Total Reward model, the Constant Effect Model, and the Additional Decrement Model to examine the direct and indirect effects of compensation on employees performance, satisfaction, well-being, work-life and prediction of turnover. Participants will also use Simon Sinek’s WHY Model to involve employees in understanding which aspects of C&B of their organization motivates them.